On or around May 24, 2018, GreenSky completed its initial public offering (“IPO”), issuing 38 million shares priced at $23.00 per share and raising $874 million. On November 6, 2018, GreenSky lowered its full-year 2018 transaction volume guidance from between $5.1 and $5.3 billion to between $4.9 and $5.1 billion and lowered its full-year 2018 Adjusted EBITDA guidance from between $192 and $199 million to between $165 and $175 million. GreenSky attributed the reduction to a general labor shortage and unfavorable shifts in its loan mix. Following these disclosures, GreenSky’s stock price closed at $9.28 per share, a decline of $13.72, or approximately 60%, from the IPO price of $23.00 per share.

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